I'm not an attorney, but my understanding is that is basically a handshake deal.

I am a busy medical professional and don't have the time to try and find off market deals and also don't have the time to constantly peruse the MLS looking for deals.

I was not aware that Freddie allowed non-recourse deals.

What made you interested in investing in this type of deal?

As a wholesaler you have to work a lot to make a deal, it takes great deal of effort to find and close a good deal especially when you are just starting out.

Hey everyone,I wanted to share an exciting creative financing deal I just closed that resulted in over $50k in equity, with only $6k cash to close, plus many other benefits!

I got a great deal, a great house with tenants on a lease for two years and a very knowledgeable and responsive portfolio manager.

After 45+ years in real estate, I have come to a conclusion about owner occupied properties. Unless the home seller / buyer has extensive experience in real estate 
THE HOMEOWNER SHOULD NOT DO ANY REAL ESTATE TRANSAC...

BRRRR deals are really challenging and cash-flow is nearly impossible to find in this market. 

It looks like they are sending out refund contracts kind of on a first-come, first-serve basis, with some levels of priority because there are so many investors in these deals, which is why I'm posting this to get moving on this ASAP given the number of investors who are jumping in for refunds.I do not recommend you stay in this deal because they will be raising prices.